Market Size of Global Fibrinogen Concentrate Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 5.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fibrinogen Concentrate Market Analysis
The fibrinogen concentrate market is expected to register a healthy CAGR of 5.8% during the forecast period (2022-2027).
The COVID-19 pandemic had an adverse effect on market growth. Coagulation disorders may be regarded as risk factors for the severity and mortality of COVID-19, according to a November 2021 study titled "Meta-analysis of coagulation parameters linked with illness severity and poor prognosis of COVID-19." According to a National Institutes of Health report from February 2022, the panel advises testing hospitalized COVID-19 patients for thromboembolic disease if they exhibit sudden, localized loss of peripheral perfusion or rapid deterioration of their pulmonary, cardiac, or neurological function. The United States Blood Centers 2020 reports that fewer blood drives were held in 2019, which led to about 250,000 blood donations that weren't made. Additionally, more than 50,000 blood drives have been relocated or canceled as a result of the pandemic in March 2020. Thus, the lesser activities related to the blood donations resulted in low demand for fibrinogen concentrate thus adversely affecting the market growth. However, in the future, the market is expected to grow due to the reopening of facilities and surgical procedures.
The increasing prevalence of chronic blood disorders is one of the major factors driving the market study. According to the World Hemophilia Federation's Annual Global Survey 2020, 347,026 people worldwide suffered from bleeding disorders 2020. A further estimate of 10 million cases of venous thromboembolism (VTE) is recorded globally each year, according to the 2022 International Society on Thrombosis and Haemostasis Inc. According to the same source, 544,000 people die in Europe each year as a result of VTE. The American Cancer Society predicts that there will be roughly 100,350 new cases of melanoma in the US in 2020 (60,190 in men and 40,160 in women). In addition, leukaemia affects a substantial portion of the global population. For instance, according to data from GLOBOCAN 2020, there were 474,519 cases of leukaemia worldwide in 2020, affecting people of all sexes and ages. Additionally, according to Blood Cancer UK figures from 2021, although it is uncommon, children can acquire acute myeloid leukaemia (AML). Around 100 kids in the United Kingdom are given the diagnosis each year, according to the same source as above. Thus, the studied market is expected to be driven by the growing burden of blood disorders over the forecast period.
However, the stringent regulatory framework is expected to hinder market growth.
Fibrinogen Concentrate Industry Segmentation
Fibrinogen is one of the components responsible for the clotting of blood, the deficiency of which may lead to severe blood loss. The Fibrinogen Concentrate Market is Segmented by Indication (Congenital Fibrinogen Deficiency and Surgical Procedure) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions, globally. The report offers the value (in USD million) for the above segments.
| By Indication | |
| Congenital Fibrinogen Deficiency | |
| Surgical Procedure |
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Global Fibrinogen Concentrate Market Size Summary
The fibrinogen concentrate market is poised for significant growth, driven by the increasing prevalence of chronic blood disorders and the rising demand for surgical treatments. The market experienced a setback due to the COVID-19 pandemic, which disrupted blood donation activities and adversely affected demand. However, as facilities reopen and surgical procedures resume, the market is expected to recover and expand. The growing burden of conditions such as hemophilia, venous thromboembolism, and leukemia, along with the increasing number of surgical procedures, particularly in North America, is anticipated to fuel market growth. Despite the promising outlook, the market faces challenges from stringent regulatory frameworks that could impede its progress.
The market landscape is characterized by fragmentation, with several key players like LFB, Octapharma AG, CSL Behring, and others actively working to enhance their market presence. Recent developments, such as Biotest AG's interim analysis of the Phase III AdFIrst trial and Octapharma Canada's approval for Fibryga, highlight ongoing efforts to advance fibrinogen concentrate applications. North America's substantial market share is attributed to the high incidence of bleeding disorders and an aging population, which drives the demand for knee and hip replacements. Government initiatives, such as Canada's healthcare funding to address surgery backlogs, further support market expansion. As these factors converge, the fibrinogen concentrate market is expected to experience robust growth over the forecast period.
Global Fibrinogen Concentrate Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Increasing Burden of Blood Disorders
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1.2.2 Increasing Product Approvals
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1.3 Market Restraints
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1.3.1 Stringent Regulatory Framework
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD million)
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2.1 By Indication
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2.1.1 Congenital Fibrinogen Deficiency
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2.1.2 Surgical Procedure
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2.2 Geography
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2.2.1 North America
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2.2.1.1 United States
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 United Kingdom
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2.2.2.3 France
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2.2.2.4 Italy
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia-Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 Australia
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2.2.3.5 South Korea
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2.2.3.6 Rest of Asia-Pacific
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2.2.4 Middle East & Africa
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2.2.4.1 GCC
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2.2.4.2 South Africa
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2.2.4.3 Rest of Middle East & Africa
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2.2.5 South America
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2.2.5.1 Brazil
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2.2.5.2 Argentina
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2.2.5.3 Rest of South America
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Global Fibrinogen Concentrate Market Size FAQs
What is the current Global Fibrinogen Concentrate Market size?
The Global Fibrinogen Concentrate Market is projected to register a CAGR of 5.80% during the forecast period (2024-2029)
Who are the key players in Global Fibrinogen Concentrate Market?
LFB, Octapharma AG , CSL Behring , Hualan Biological Engineering Inc and Shanghai RAAS are the major companies operating in the Global Fibrinogen Concentrate Market.
